The Charles Schwab Corporation (NYSE:SCHW) Shares Bought by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Key Points

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Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 13.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,211 shares of the financial services provider's stock after buying an additional 14,379 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Charles Schwab were worth $9,332,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Atwood & Palmer Inc. acquired a new stake in Charles Schwab in the 1st quarter valued at about $25,000. Westside Investment Management Inc. raised its holdings in Charles Schwab by 75.0% in the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 150 shares during the last quarter. WFA Asset Management Corp acquired a new stake in Charles Schwab in the 1st quarter valued at about $33,000. Cornerstone Planning Group LLC raised its holdings in Charles Schwab by 90.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 220 shares during the last quarter. Finally, Beacon Capital Management LLC increased its holdings in shares of Charles Schwab by 53.1% during the 1st quarter. Beacon Capital Management LLC now owns 487 shares of the financial services provider's stock worth $38,000 after buying an additional 169 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Charles Schwab

In other news, Director Paula A. Sneed sold 8,647 shares of Charles Schwab stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total transaction of $761,454.82. Following the completion of the sale, the director directly owned 105,654 shares of the company's stock, valued at approximately $9,303,891.24. The trade was a 7.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul V. Woolway sold 3,290 shares of Charles Schwab stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $90.95, for a total transaction of $299,225.50. Following the sale, the insider directly owned 35,864 shares of the company's stock, valued at approximately $3,261,830.80. This trade represents a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 304,726 shares of company stock worth $29,025,396. 6.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SCHW shares. TD Securities raised their price target on shares of Charles Schwab from $95.00 to $113.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. Bank of America raised their price target on shares of Charles Schwab from $83.00 to $84.00 and gave the stock an "underperform" rating in a report on Monday, July 21st. Raymond James Financial restated an "outperform" rating and set a $99.00 price target on shares of Charles Schwab in a report on Friday, July 18th. JPMorgan Chase & Co. raised their price target on shares of Charles Schwab from $92.00 to $95.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Finally, Citigroup raised their price target on shares of Charles Schwab from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $99.35.

Charles Schwab Stock Down 2.2%

SCHW stock traded down $2.16 during midday trading on Friday, hitting $95.57. The company's stock had a trading volume of 9,790,479 shares, compared to its average volume of 8,649,078. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.53. The Charles Schwab Corporation has a 52-week low of $61.15 and a 52-week high of $99.59. The firm has a market capitalization of $173.65 billion, a P/E ratio of 25.69, a PEG ratio of 0.94 and a beta of 0.96. The firm has a 50-day simple moving average of $91.28 and a 200-day simple moving average of $83.66.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.73%. The company had revenue of $5.85 billion during the quarter, compared to analysts' expectations of $5.64 billion. During the same quarter last year, the company posted $0.73 EPS. The firm's revenue was up 24.8% compared to the same quarter last year. As a group, equities analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab announced that its Board of Directors has authorized a share repurchase plan on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, August 8th. Charles Schwab's payout ratio is 29.03%.

Charles Schwab Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.